Indian exporters lobby the Indian central bank to depreciate the rupee to offset US tariffs.

Indian exporters have stated that they will lobby the central bank to allow them to temporarily exchange their earnings from US business at a rate 15% lower than the current level to help alleviate the impact of punitive tariffs imposed by US President Trump. Pankaj Chadha, Chairman of the Engineering Export Promotion Council of India, said in a phone interview that exporters are seeking a rate of around 103 rupees to the dollar. The rupee is currently trading near a historic low of 88.33 rupees to 1 US dollar as of Monday. Chadha said these companies will present their case to India's central bank governor Mahotra at a meeting next week. He pointed out that due to the tariff increase, goods shipped to the US are facing a loss of about 30%, and therefore they hope the government can cover at least half of the cost.